B

Baroness Gustafsson (Lab)

Speaking in the House of Lords on 3 April 2025

Debate

UK-US Trade and Tariffs

Contribution

I thank the noble Lord for the question. Engagement with business has to be at the forefront of this. Often, we interpret this through our own lens—our own understanding and feelings about being on the receiving end of those tariffs. But for some industries, as the noble Lord rightly points out, there could be an opportunity. It is not for us to reflect our perception of these tariffs on to an industry; it is up to us to operate within industry and hear from them about the impacts on their organisations, their employees and their future strategies. That is exactly why today’s request for input from industry is so important. There has been an ongoing engagement with industry for weeks and months in the run-up to this. We have been talking about the implications of this for business, but it has been on a hypothetical basis. We are now turning that into a far more tactical conversation. What is the consequence of what is happening? How can we, as your government, support you to navigate through this?

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